Personal Finance

Mortgages and Remortgages

(Your home may be repossessed if you do not keep up repayments on your mortgage)

We can be paid by commission or fees or a combination of the two. Our typical fee is £495 but could be a maximum of £2,495 dependent upon your circumstances.

Please refer to “Our Process/Fees & Costs” below for further information

Most of us are aware that there are hundreds of lenders in the financial marketplace offering thousands of different mortgage products.

So how does anyone go about finding the right mortgage solution to suit their own particular financial circumstances?

It is possible to do some basic research using internet portals to hopefully find "the best rate" however the lowest rate may not necessarily be the best mortgage solution for your individual circumstances. This sort of approach may provide some basic benchmarking however it is an "information only" service under the FSA definition and still leaves the customer no nearer to understanding whether they have found the most appropriate funding solution.

An "information only" service is typical of what you will see down the high street from the lenders and on the internet.

In this "information only" scenario you need to look out for "the small print" to try to understand the wider implications of a particular scheme.

Put simply this type of approach is a game of chance and you should ask yourself whether you really are happy to leave your mortgage to chance! If you are tempted to play the game it could end up costing you many £'000's.

So what is the alternative? ………………………………………………

Xba Finance

Because we are independent, and act on your behalf (not the lenders), we have access to the whole market and adopt a very structured approach to our mortgage review process. This ensures that all our clients will end up with the right mortgage product based on their particular circumstances.

Initially we will conduct a detailed and in-depth review of your current circumstances, analyse the information provided, research the market on your behalf, then provide you with professional, independent advice and a written recommendation as to the best way forward.

To achieve this outcome we will of course need to ask you some detailed questions about all aspects of your financial circumstances. We make no apology for this as it will help to ensure that we build a comprehensive and validated financial plan.

Please be assured that everything you tell us is strictly private and confidential and you are also protected by the Data Protection Act 1998.

Our review process is extremely thorough and again, we make no apology for that..... after all, for most people the mortgage is their biggest liability and it is also their longest running, so we are sure you will agree that it is vitally important to get things right!

Our Process/Fees & Costs

Xba Finance operates a "two visit system". The initial meeting - the financial review - is free of charge. You are under no obligation and will not be asked to make any decisions at this meeting.

Once we have established your precise circumstances and only upon your instructions, will we then take a few days to analyse the information provided and also research the whole marketplace on your behalf. Once again there is no charge at this stage of the process.

At the second meeting we will present you with our detailed recommendations for your consideration and outline very clearly to you the reasons why we are making our recommendations. We will also quote you our proposed fee for our services. Our proposed fee will be entirely transparent and include all aspects of our service:

the initial financial review meeting, the analysis undertaken, the research, our recommendation summary and if you decide to instruct XBA Finance to act on your behalf, the subsequent arrangment of the mortgage. This will even include completing the application forms on your behalf!

If you are happy with the proposals and provide us with your instructions and authority to proceed we will of course monitor the whole process including liasing with solicitors on your behalf right through to completion and beyond.

Any fee agreed between us will in the vast majority of cases only become payable on completion.

The precise amount of any fee will of course depend on a number of factors including the complexity of your particular circumstances and the nature of the recommendation/solution however we estimate that our fee will be between £495 and £2,495.

Whilst we charge fees for our services there are several very important issues to consider:

Charging a fee affords our clients a significant degree of protection against the alternative in the advice market where an adviser is entirely reliant upon the providers for commission as the only source of income.

For example if an adviser is not charging a fee they will be getting commission back from the lender in lieu of the business introduction. Ask yourself this simple question in such a scenario:

If lender A is offering commission of £1,000 and lender B only £100, which lender do you think the adviser is likely to lean towards irrespective of whether it is the best scheme for the client or not! That's right lender A!

This commissiion only scenario represents a very significant conflict of interest and in our experience is to be avoided. At Xba Finance we make no apology for avoiding such conflicts and we understand very clearly that we are at all times acting for the client. What is more, everything is 100% transparent as we will disclose our exact fee to you before we undertake any chargeable work on your behalf.

We understand that we have to prove to each and every client that the benefits attaching to our recommendations far outweigh any costs involved otherwise no client would ever see the sense in our approach and instruct us to work on their behalf.

This is simple really, as most sensible things are. It is your guarantee of truly impartial advice.

Finally, it should be stressed that in the majority of cases XBA Finance will not get paid until the mortgage completes and many clients ask us to build any fee into the new package which is something that we are always prepared to accommodate if possible.

If you are at all concerned about potential fees and costs, please do call us and we will be happy to speak to you and reassure you.

In the final analysis however, our clients must be the real testament to our approach and here are just some of their comments:

"superb - best move we ever made" "extremely helpful and courteous" "our adviser made everything easy to understand" "I can't see any way you could improve - top class - very pleased" "I would recommend you to anyone" "excellent. Our adviser was brilliant. He explained everything clearly and the thorough background to the recommendations enabled us to make an informed decision" "very comprehensive knowledge of the industry" "very helpful and clear in the way the figurework and recommendations were laid out."

So why not join the ever expanding number of satisfied XBA Finance clients?

Contact XBA Finance today to access the most comprehensive level of service in the regulated mortgage marketplace.

You will be absolutely delighted you did!



Xba – eXperience, eXpertise & financial eXellence

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